At 5,215, the S&P 500 is already 7.3% above the average 2024 year-end price target from Wall Street strategists (4,861). $SPX
Source: Charlie Bilello
Why are gold and digital gold (aka bitcoin) rallying?
Sometimes one chart is worth a thousand words... As explained by Tavi Costa, If easing monetary conditions with inflation re-accelerating is the next move, then this is probably the most compelling setup to own hard assets (and storer of values) that we've ever seen. Source: Tavi Costa, Crescat Capital, Bloomberg
This table explains why markets were soooo... happy yesterday.
As shown by Charlie Bilello: as compared to their December forecasts, the Fed is expecting higher Real GDP growth (2.1% vs. 1.4%), lower Unemployment (4.0% vs. 4.1%), & higher Core PCE Inflation (2.6% vs. 2.4%) but is still anticipating 3 rate CUTS this year. This uber-dovish and bullish for risk assets and gold...
Look at this base on silver... could it follow the steps of gold ?
Source chart: J-C Parets
Powell: " We expect a bit more inflation and higher growth, but... we’re still going to be cutting rates very soon while also slowing down QT..." Mr market:
source: Geiger Capital
A new dual mandate for the fed?
Source: Michel A. Arouet
all-time high my friends !
Source: Not Jerome Powell
Bitcoin Halving
Source: Documenting Bitcoin
